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SFPUC authorizes up to $5 million to secure Treasure Island replacement cable bid
Summary
The commission authorized the general manager to modify the cooperative agreement with the state and make available up to $5,000,000 as protective funding for the Bay Bridge‑related replacement and capacity upgrade of underground electric cable serving Treasure Island/Yerba Buena Island; the PUC will own the asset and be repaid by the Treasure Island Development Authority.
The San Francisco Public Utilities Commission on Dec. 12 authorized staff to modify an agreement with the state and allocate up to $5,000,000 in protective funds so the state can award a contract to replace and (optionally) upgrade the underground electric cable serving Treasure Island and Yerba Buena Island, work necessitated by Bay Bridge construction.
Barbara Hale, assistant general manager for power, told commissioners the state's engineer estimate for the work was about $11,460,000 and the state had set aside roughly $9,600,000. Hale said the PUC's requested authority of up to $5 million is "protective money to ensure that there's enough money because the bid can be certified and later on we'll do the accounting and divide up amongst the parties." The PUC would own the installed asset and be repaid by the Treasure Island Development Authority (TIDA) under the parties' agreement.
Commissioners pressed staff on cost allocation scenarios and on whether PUC's advance would preserve the utility's role as provider; staff confirmed that the PUC would own the asset and could either provide service or sell capacity and that TIDA would reimburse the utility for PUC payments. The commission approved the motion to hold the funding authority and proceed, with staff returning to sort final accounting after bids are opened.
The commission also agreed to bring the item back at the next meeting with final bid information after Fremont opens bids and provides the exact cost figures.
